Levin Announces Kessler Rehabilitation Center Lease at Aldrich Plaza

March 16, 2011 - PRLog -- Kessler Rehabilitation Center has leased a 4,200-square-foot, pad-site building at Aldrich Plaza in Howell, announced retail real estate services firm Levin Management Corporation. Kessler will establish an outpatient rehabilitation center in a former Blockbuster space, bringing a new service to the local community and illustrating the emerging trend of non-traditional tenants operating at shopping center properties.

Located directly on Route 9 at the heart of Howell's retail area, Aldrich Plaza has long been one of the market's most popular shopping destinations. Anchored by Bed Bath & Beyond, the center has a strong set of tenants including Mandee, Retro Fitness, The UPS Store, Boston Market, GNC, Radio Shack and others. The 99,000-square-foot property houses a number of services as well, including an optician and dentist.

"Aldrich Plaza's tenant mix already brings together many different retailers and service providers to serve the community, which is exactly the role that a shopping center should fill. The addition of the Kessler Institute adds yet another valuable service to the property and to the area," according to Matthew K. Harding, president and COO of Levin Management.

"In the case of Aldrich Plaza, this strategy has worked to everyone's advantage, providing key services for local residents while increasing the occupancy at this well-located property," added Levin's Stanley Bernstein, who negotiated the Kessler lease. "And the tenant enjoys the great visibility that being in a shopping center provides."

Patti Toth of Jackson Cross Partners represented the tenant.

The Kessler Rehabilitation Center building is situated in a free standing building immediately adjacent to Route 9.

Levin currently is marketing a 10,000-square-foot pad site adjacent to Bed Bath & Beyond, as well as inline space of 5,180 square feet at Aldrich Plaza. The shopping center benefits from a daily traffic count of 47,770 vehicles as well as an adjacent commuter parking facility. The growing population within a three-mile radius of the property currently already is 43,270. The average household income within that same radius is $101,489 and is projected to reach $111,583 by 2015.

Levin currently maintains a growing portfolio of more than 90 diverse retail properties totaling 12.5 million square feet. Properties range from downtown stores to lifestyle centers, and from neighborhood and community centers to power centers in New Jersey, New York, Pennsylvania, Virginia, North Carolina and Florida. Levin offers a full range of services for its clients, including leasing, property management, accounting, construction management, marketing and risk management.

The firm has earned a number of achievements in the past 24 months including "Firm of the Year" by the Institute of Real Estate Management (IREM), New Jersey Chapter No. 1; one of America's five fastest-growing real estate managers by Chain Store Age; and Top Retail Company by the Mid Atlantic Real Estate Journal. In November 2010, the firm was named as one of the nation's Top 10 Redevelopers by Chain Store Age and in January, was ranked 30th among Top US Real Estate Companies by Commercial Property Executive magazine.

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About Levin Management Corporation: Founded in 1952, Levin Management Corporation is one of the nation's leading retail real estate services firms, with a strong focus in the northeastern United States and an owner's approach to the business. The company has earned a long list of coveted awards over the years. In 2008, Levin was named "Firm of the Year" by the Institute of Real Estate Management, New Jersey Chapter No. 1; one of America's five fastest growing real estate managers by Chain Store Age; and Top Retail Company by the Mid Atlantic Real Estate Journal. In 2010 Levin was named one of America's Top Redevelopers by Chain Store Age, the only true retail real estate services company on the magazine's list of 10 companies.